I BOUGHT (FLIR) today....Dumping AMAT
I just DUMPED completely out of AMAT for a small loss on that stock.... I did so for lots of reasons... One of which is that I have lost my taste for "Solar Energy" optimism. Another is that Applied Materials recently held out their hands to Barack Obama and begged Barack to get his PORKULUS Spending Bill past so that AMAT could get bailed out.
AMAT is falling off a cliff right now with no end in sight. Nothing exciting has been manufactured at AMAT to compete with some other semiconductors that are actually doing well (VSEA) Varian Semiconductor for example.
In short.... AMAT is a sell. It is bad.
I also sold AMAT because a Watch List stock just hit my Alert level. (FLIR) plunged 4% to 23.03 or so today. That is insane for a company that is a hot commodity and market leader in their communications and surveillance equipment for Aerospace and Defense.
FLIR sells "SEA FLIR" technology for Vessels for the Navies across the world. They sell top quality military equipment and the stock has nearly been cut in 1/2.
Sure.. The company just failed to land a massive Navy Contract totally nearly 200 million. The stock price dive was warranted.... The Analyst Sell ratings were warranted....
But.. Analysts gave the company a "HOLD" rating after it plunged to around $27 a share. So 4 points below the HOLD is definitely where one should start buying.... Their earnings report comes out in 2 days and there's no way this Investor is going to miss out.
Should the stock price take another hit by another 3 or so points then I am going to dip in real big on this one.
Currently own 50 shares.